Asia300

China Life Insurance Co. Ltd.

China

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Nov 23, 2017
Prev close: 26.7
Nov 23, 2017
Market cap:
Market cap(USD):
1,006.74B
128,923.37M
Shares: 28,264.70M

Currency in HKD

Company profile

Market(Ticker): HKG(2628)
Sector:
Industry:
Finance
Life/Health Insurance
Full time employees: 99,739

Business summary

China Life Insurance Co., Ltd. engages in the provision of life, annuity, accident, and health insurance. It operates through the following segments: Life Insurance Businesses, Health Insurance Businesses, Accident Insurance Businesses, and Other Businesses. The Other Businesses includes income and allocated cost of insurance agency businesses. The company was founded on November 23, 2003 and is headquartered in Beijing, China.

Company background

China Life Insurance is the largest insurance company in China. It was listed on the Hong Kong stock exchange in 2003 and on the Shanghai Stock Exchange in 2007. In 2014, the company commanded a domestic market share of 26% and ranked second in terms of market capitalization among life insurance companies in China. The Chinese government holds a 68% stake in the insurer.

The state-run insurance company enjoys a high degree of creditworthiness and broad name recognition. The company touts its vast nationwide sales network comprising 740,000 people selling individual insurance products, 19,000 for group insurance products, and 71,000 in charge of sales at bank counters, catering to a total of nearly 200 million customers. The Chinese insurance market has been expanding rapidly on the back of an increase in personal income, and the size of the market is expected to become even larger, reflecting the country's graying society.

China Life Insurance also handles non-life insurance products. Taking advantage of its position as a state-owned insurer, the company forged a tie-up with the Ministry of Public Security in July 2015 to offer accident insurance policies to 1.8 million public safety employees across the country. U.S. credit rating agency Moody's Investors Service has assigned an Aa3 rating to the life insurer, the same rating as the Chinese government.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 635,874.38M
Gross profit --
Operating income 35,259.36M
Income before tax 21,016.34M
Net income 21,897.33M
EBITDA --
Diluted EPS 0.77
Dividends per share 0.27
Total assets 3,014.00B
Total liabilities 2,670.78B
Total equity 338,732.16M
Operating cash flow 220,104.34M

Currency in HKD

Revenue 81,916.63M
Gross profit --
Operating income 4,542.29M
Income before tax 2,707.43M
Net income 2,820.92M
EBITDA --
Diluted EPS 0.09
Dividends per share 0.03
Total assets 388,745.94M
Total liabilities 344,476.86M
Total equity 43,689.61M
Operating cash flow 28,354.98M

Currency in USD

Valuation measures

Dec 2016

PER 26.19
ROA 0.73%
ROE 6.05%
Operating margin 5.54%
Profit margin 3.44%

Key executive

  • President & Executive Director: Dai Ren Lin
  • Chief Technology Officer: Ruan Qi
  • Vice President: Liang Wen Li
  • Vice President: Heng Xuan Su
  • Vice President: Li Jun Zhao

Share holders

  • Hang Seng Investment Management Ltd.(3.5%)
  • The Vanguard Group, Inc.(3.4%)
  • BlackRock Fund Advisors(2.3%)
  • Comgest SA(2.3%)
  • Templeton Global Advisors Ltd.(2.0%)
  • FIL Investment Management (Hong Kong) Ltd.(1.8%)
  • State Street Global Advisors Asia Ltd.(1.0%)
  • Fidelity Management & Research Co.(0.8%)
  • Norges Bank Investment Management(0.7%)
  • BlackRock Advisors (UK) Ltd.(0.6%)

Address

  • Website: http://www.e-chinalife.com
  • Address: 12F China Life Plaza A, No. 16, Financial Street, Beijing, 100033, China
  • Phone: +86.10.63633333

Copyright © 2017 FactSet Research Systems Inc. All rights reserved.